In the latest trading session, Acuity Brands (AYI) closed at $134.86, marking a +0.55% move from the previous day. This move outpaced the S&P 500's daily of 0%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq added 0.07%.
Coming into today, shares of the lighting maker had gained 7.55% in the past month. In that same time, the Construction sector gained 7.57%, while the S&P 500 gained 4.25%.
AYI will be looking to display strength as it nears its next earnings release, which is expected to be October 2, 2019. On that day, AYI is projected to report earnings of $2.84 per share, which would represent year-over-year growth of 5.97%. Meanwhile, our latest consensus estimate is calling for revenue of $1.03 billion, down 2.8% from the prior-year quarter.
Any recent changes to analyst estimates for AYI should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AYI is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AYI has a Forward P/E ratio of 13 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 13.
It is also worth noting that AYI currently has a PEG ratio of 1.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AYI's industry had an average PEG ratio of 1.01 as of yesterday's close.
The Building Products - Lighting industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 225, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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